ALFA Finder
The call ran from 4:01 PM to 5:21 PM IST (1 h 20 min).
Key takeaways
Best-ever Q2: revenue ₹363.8 Cr (+18%), PAT ₹79.8 Cr (+90%), but PAT includes ~₹22 Cr net non-cash exceptional gain; corporate demand still muted.
| Revenue growth | Revenue +18% YoY to ₹363.8 Cr; ~₹41 Cr exceptional revenue booked separately. |
|---|---|
| Margins | EBITDA margin 44.6%, up 157bps YoY despite 3.2% SAR/GST hit. |
| Order book | Pipeline 24,061 rooms across 285 hotels; 825 rooms signed vs 523 opened. |
| Demand visibility | Corporate demand muted; non-negotiated business compensating; Q3 unclear post-Diwali. |
| Management confidence | Balanced: upbeat on RevPAR, cautious on corporate demand and war uncertainty. |
Growth
Revenue +18%, RevPAR +18%, EBITDA +22% at 44.6% margin; ~₹22 Cr net exceptional gain flatters PAT.
Outlook
Targets ~2,000 gross key openings in FY27; Bandra ARR ~₹12,000 at FY30 opening.
Risks
Corporate demand muted amid war, oil, inflation; Gurugram lease exit; 530 rooms deflagged; exceptional-driven PAT.
Last quarter's promises, checked
Delivered
- Q2 double-digit growth → revenue +18% (= BEAT)
- Q2 ARR +5-6% → ARR +8% (= BEAT)
- Keys RevPAR double-digit across locations → Keys RevPAR +29% (= BEAT)
Partly delivered
- FY27 net EBITDA margin 'well better than 47%' → Q2 44.6%, FY not reported (= PARTIAL)
- ~2,000 keys opened FY27 → 334 opened in Q1, target reiterated (= PARTIAL)
- Fleur acquisitions 'next few months' for 2,500 rooms → Bandra land acquired only (= PARTIAL)
Missed
- Aurika Shimla to open 'shortly' (Q1 call) → Q3 FY27 (= MISS)
- Corporate demand to recover in Q2 → corporate demand still muted (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Lemon Tree Hotels Q2 FY27 Results: Net Profit ₹79.8 Cr, Up 90.5% YoY
Lemon Tree Hotels Ltd reported revenue from operations of ₹361.4 Cr (+18.0% YoY) and net profit of ₹79.8 Cr (+90.5% YoY) for Q2 FY27.
- Key figure
- Net profit ₹79.8 Cr · +90.5% YoY
What management said last time
Full summary →From the call summary published .
Outlook they gave
Targeting 50% consolidated EBITDA margin for FY28 and 75-80% management fee margin for Lemon Tree.
Growth they described
Q1 FY27 revenue grew 9% YoY, driven by asset-light fee income rising 42%.
Call details
| Company | Lemon Tree Hotels Ltd |
|---|---|
| NSE symbol | LEMONTREE |
| ISIN | INE970X01018 |
| Call | Q2 FY27 earnings call |
| Date | Wednesday, 11 November 2026 |
| Time | 4:00 PM IST |
| Length | 1 h 20 min |
| Audio | Our stream on YouTube ↗ |
Lemon Tree Hotels Ltd: key numbers
- Share price
- ₹115.10
- Market cap
- ₹9,119 Cr
- Revenue (annual)
- ₹1,444 Cr
- Net profit (annual)
- ₹227.1 Cr
- P/E (TTM)
- 35.5×Sector 47.2×
- Promoter holding
- 22.32%+0.00% QoQ
- FII holding
- 18.27%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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